AXON vs PEP: Correlation
Axon Enterprise (AXON) and PepsiCo (PEP) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and PEP?
Across a 3-year window, the weekly returns of AXON and PEP correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. Stretching to 5 years gives -0.07, with an annualized covariance of -201.4 %².
Within AXON's tracked universe of 35 assets, PEP comes in at #25 by 3-year correlation. The last year tells two different stories: PEP led by 19.0 percentage points, -20.6% for AXON against -1.6% for PEP. The rolling one-year correlation moved between -0.35 and 0.05 over the past three years, a moderate range. Risk is not evenly split, since AXON carries 3.0 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AXON vs PEP: side by side
| AXON (Axon Enterprise) | PEP (PepsiCo) | |
|---|---|---|
| 1-year return | -20.6% | -1.6% |
| 5-year return | +216.9% | +4.9% |
| Volatility (ann.) | 57.4% | 19.1% |
| Beta vs S&P 500 | 1.51 | 0.13 |
| Max drawdown (3Y) | -60.3% | -27.5% |
| Market cap | $49.7B | $190.9B |
| P/E (trailing) | 250.5 | 18.6 |
| Dividend yield | 0.00% | 4.04% |
| Sector / category | Industrials | Consumer Staples |
Year-by-year returns
| Year | AXON | PEP |
|---|---|---|
| 2022 | +5.7% | +6.8% |
| 2023 | +55.7% | -3.3% |
| 2024 | +130.1% | -7.6% |
| 2025 | -4.4% | -1.8% |
| 2026 | +7.6% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and PEP good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AXON and PEP?
The AXON/PEP correlation stands at -0.18 on a 3-year window (1 year: -0.18, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is PEP a good diversifier for AXON?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axon-vs-pep.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axon-vs-pep/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXON correlations · PEP correlations
